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What are the benefits of GST?

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  1. #1
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    Default What are the benefits of GST?

    What are the benefits of GST?

  2. #2
    Senior Member nikhil01's Avatar
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    Default Re: What are the benefits of GST?

    Removing cascading tax effect
    Higher threshold for registration
    Composition scheme for small business
    Online simpler procedure under GST
    Lesser compliance
    Defined treatment for E-commerce
    Increased efficiency in logistics
    Regulating the unorganised sector.

  3. #3
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    Default Re: What are the benefits of GST?

    Nikhil01 said almost. Thanks

  4. #4
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    Default Re: What are the benefits of GST?

    GST
    shifts the tax incidence near to the consumer and
    benefits
    the industry through better cash flows and better working capital management.

  5. #5
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    Default Re: What are the benefits of GST?

    GST Tax is perceived as the replacement of all indirect tax levied currently on the goods and services around the nation.

  6. #6
    Member albertocosta's Avatar
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    Default Re: What are the benefits of GST?

    1. Elimination of multiple taxes.
    2. Saving more Money.
    3. Ease of business.
    4. Easy tax filing & documentation.
    5. More competitive product.
    6. Increase in Revenue.

  7. #7
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    Default Re: What are the benefits of GST?

    The major benefit of GST is an elimination of multiple indirect taxes. As well as it is easy to maintain, because it is more sophisticate to maintain 1 tax record rather than 17 taxes. GST is likely improve India’s ranking in the EDBI and is estimated to increase the GDP.